Wait for President Prabowo's Decision, Airlangga Reveals Several PFII Location Candidates

JAKARTA - Coordinating Minister for Economic Affairs Airlangga Hartarto revealed that the government is still studying a number of alternative locations for the construction of the Indonesian International Financial Center (PFII).

Airlangga said that he and Danantara's Chief Executive Officer (CEO), Rosan Roeslani, had conducted a direct review of a number of potential locations on the island of Bali, and the review included several Special Economic Zones (KEK) to state-owned assets which were considered potentially becoming locations for the development of PFII.

"Yesterday, Mr. Rosan, I had reviewed several places in Bali. So one of them is land owned by SOEs in Bali. So yesterday we also saw several KEK, and also land in West Bali, as well as land near the airport owned by SOEs. So that is an alternative for the establishment of PFII," he told the media, quoted Thursday, July 23.

However, Airlangga emphasized that the government had not yet determined the final location for the project, and a new decision would be made after the discussion of the PFII Law was completed and the results of the study were reported to President Prabowo Subianto.

"We are still studying, later after the law and this is only decided after it is reported to the President," he said.

According to Airlangga, the determination of the location of the PFII will consider a number of aspects, including the availability of land and the readiness of supporting infrastructure.

He assessed that Bali has an advantage because it has the Sanur KEK which has been developed as a world-class health and tourism destination.

"First of all, the land area is very large. Second, the location of Bali is very suitable because yesterday there was a health KEK. Well, one of the financial centers must also have special health facilities because of course there will be investment managers, investors, and others, so that they feel comfortable and safe," he said.

Responding to the possibility of the PFII being built within a special economic zone, Airlangga explained that the financial center would have an area with its own status, even though it could be adjacent to the Special Economic Zone, the PFII area would be designated as a special area with its own arrangements.

"No, if the facility is a financial center facility. But if it is carved in the area, it is made a special area," he said.